BiM News

In Q1 2020, Gross Domestic Product grew by 2.0% y/y, compared with a 3.2% y/y increase in Q4 2019, while year-on-year inflation was 2.9%. - The Central Statistical Office (GUS) informed.

Ratings agency Moody's has downgraded Poland's economic growth forecast to minus 3.8 percent from an earlier forecasted negative of -2.0 percent growth in 2020.

Fitch has lowered its forecast of Poland's GDP growth in 2020 to -3.2% y/y from -1.7% estimated at the end of April, the agency's report shows. For 2021, the agency raised the estimate of Poland's GDP growth rate to 4.5% y/y from 4.3%.

The recession in the first quarter of 2020 in Poland turned out to be shallower than expected, Goldman Sachs informed, referring to the published data of the Central Statistical Office.

The European Bank for Reconstruction and Development forecasts that in 2020 Poland will be affected by a 3.5% recession caused by the coronavirus pandemic, but the bank expects a 4% GDP rebound in 2021. The improvement will depend on the easing of restrictions and a return to normality in the ...